The present invention relates to tool bit holders for connecting a rotary tool, such as a driver bit for driving/securing a fastener, to a rotary tool, such as an electric drill or driver. Such tool bit holders are sometime referred to as a chuck or more particularly a collet. In particular, the present invention relates to a drive bit holder with auto-load and/or auto-ejection features, and/or a drive bit holder able to hold one of two different types of tool bits.